Oceaneering International (NYSE:OII) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Oceaneering International (NYSE:OII) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09), Briefing.com reports. The company had revenue of $668.81 million during the quarter, compared to analysts’ expectations of $656.87 million. Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS.

Oceaneering International Trading Up 13.6 %

Shares of Oceaneering International stock traded up $3.47 during mid-day trading on Thursday, hitting $28.92. 2,596,974 shares of the stock were exchanged, compared to its average volume of 844,391. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $29.17. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 27.28 and a beta of 2.39. The company has a 50-day simple moving average of $23.52 and a 200 day simple moving average of $22.53. The company has a current ratio of 1.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.76.

Wall Street Analysts Forecast Growth

OII has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays reiterated an “underweight” rating and issued a $21.00 price target (down previously from $22.00) on shares of Oceaneering International in a report on Tuesday, May 14th. Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Thursday. Finally, StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.